yes similar, but the key differential is that ENAMCO will pay...

yes similar, but the key differential is that ENAMCO will pay ~$35M by January next year (as per SH agreement) to buy into the project.

Thereafter they will contribute to the funding of the development on a pro-rata basis commensurate with their paid interest (i.e. excl the 10% free carried). i.e. when it comes time to arrange finance CHN will cover 66.6% and ENAMCO 33.3%.

To my mind, this is a better arrangement than applied for Nevsun as ENAMCO's interest will be paid for 'up front' and during the finance/construction phase - when the cash is really required - rather than out of cash flows. This reduces the funding requirements for CHN and means that ENAMCO have a substantial amount of 'skin in the game' in its own right.